Circle K Could Take Over Rival 7-11

Most Arizonans know about Circle K’s. They’re on the busiest corners in most of the state’s communities. Circle K was once owned by Arizonan Karl Eller, who turned it into the second-largest convenience store chain in the US, but it has since been sold. It’s now owned by Canadian convenience store chain Alimentation Couche-Tard, which has submitted a takeover bid to the parent company of 7-Eleven. This sets up the possibility that two major players in the Valley’s convenience store scene could combine. The combined company would have more than 100,000 stores.

The unsolicited proposal from Couche-Tard is a preliminary first step in what could be a lengthy process. It’s possible that the two sides do not reach a deal. But 7-Eleven’s holding company said it has formed a committee of independent board directors to review the offer.